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Essay

Insurance Sector in India

Essay specific features

 

Issue:

Business

 

Written by:

Dana B

 

Date added:

December 6, 2012

 

Level:

University

 

Grade:

A

 

No of pages / words:

3 / 694

 

Was viewed:

7572 times

 

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Essay content:

Insurance Development and Regulatory Authority (IRDA) is the regulatory authority in the insurance sector under the Insurance Development and Regulatory Authority Act, 1999. The post-liberalized insurance industry in India is also witnessing dramatic changes in terms of new channels of distribution, greater use of information technology as a service facilitator, innovative marketing of insurance products etc...
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There is also the phenomenon of noticeable shifts in consumer preferences impacting the product mix being offered by insurers. The market structure, which is a combination of a few stabilized public sector players and the 'new' players in the market, is in a state of flux. In addition, there are rising trends of convergence of financial services, especially in the areas like wealth management and evolution of newer risk management tools, particularly in the context of reinsurance management...
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